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Manila Bulletin devider Philippines devider Duterte orders probe of two syndicates that brought in close $370 M cash

Duterte orders probe of two syndicates that brought in close $370 M cash

Published Mar 3, 2020 12:00 am
By Genalyn Kabiling An investigation will be conducted into the suspected money-laundering activities of two syndicates in the country, Malacañang announced Tuesday. President Rodrigo Roa Duterte (ALFRED FRIAS/PRESIDENTIAL PHOTO / MANILA BULLETIN FILE PHOTO) President Rodrigo Roa Duterte
(ALFRED FRIAS/PRESIDENTIAL PHOTO / MANILA BULLETIN FILE PHOTO) The latest official probe was ordered by President Duterte after learning about the alleged influx of huge amount of dirty money into the country, according to Presidential spokesman Salvador Panelo. “I heard him say that. Iimbestigahan talaga ‘yun (That will be investigated) and (Finance) Secretary (Carlos) Dominguez is the one investigating it,” Panelo said during a Palace press briefing. “‘Yun ang report, hindi natin alam kung totoo o hindi that’s why precisely magkakaroon ng probe (We don't know if the report is true or not that's why there will precisely be a probe),” he said. The Bureau of Customs had earlier reported that two syndicates managed to bring in around $370 million without detection after supposedly being escorted by police and airport personnel. Customs Commissioner Rey Leonardo Guerrero reportedly said the “Rodriguez” group brought in foreign currencies worth $200.4 million while the “Chinese” group carried $167.97 million into the country. Dominguez has already asked the customs bureau to coordinate with the Anti-Money Laundering Council in the investigation. Under the country's law, travelers must declare foreign currency in excess of $10,000 at the airport. Senator Richard Gordon had earlier bared that some Chinese citizens brought in $180 million in cash into the country in recent months. He said authorities must track down where the money was going. Meantime, the President and the Cabinet discussed the proposed amendments to the country’s anti-money laundering law as well as the anti-terrorism law during the meeting at the Palace last Monday. “Bangko Sentral ng Pilipinas Governor and Anti-Money Laundering Council Chairman Benjamin Diokno then discussed the proposed legislative amendments to Republic Act No. 9160, or the Anti-Money Laundering Act of 2001 (AMLA) and Republic Act No. 9372, or the Human Security Act of 2007,” Panelo said. “The successful passage of key amendments to the AMLA and the Human Security Act, according to Gov. Diokno, will complement or boost our efforts towards an A-credit rating for the country,” he added.
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